Today was a good day. No banks folded. Congress took a break from legislating. Wall Street sighed relief and rebounded. I think the pervading feeling is that when our US legislators regroup on Wednesday and Thursday, a bill will be passed. It may not be the right bill, but it will ease fears of a series of massive bank failures as wave after wave of defaulted mortgages roll onto balance sheets. We’ll see. A lame duck President is about to succeed in passing a bill for $700 billion in spending in the last 3 months of his term. Bush knows how to go out with a bang. I just hope we can avoid the collateral damage.
Tonight we’ve decided that politics are off limits. Sometimes tempers flair for real as we debate Republican versus Democratic idealogy. For this less eventful day, we are staying with safe topics, like for instance, work, biking, elk and stocks.
Today Tim, Dan and Bob were back at it, strategizing for 2009. Last night Dan stayed out in the driveway in his Sportsmobile and heard the elk bugling. Over the past week, about 30 elk have been roaming the neighborhood, sounding off their otherworldy calls, as they gather their harems. Ann, thank you for the heads up! When Dan awoke at 4:00 to the eerie sound, he was glad to know what to attribute it to!
Before buckling down too hard into meetings, Tim took time for some stock research. As the market bounces up and down in the volatility of a serious Bear market, there are opportunities galore. Sound companies have gone down too and now is a great time to take advantage of inexpensive stock prices!
Meanwhile Jimmie had a phenomenal sales day, taking in a 1/3 of his monthly goal in one sitting. “It’s like sinking the final 40 foot putt to win the tournament”, he compared the success to. Who says we’re in a shaky economy?
The day wrapped up with an afternoon bike ride. I had hoped to be out of work in time to join them but didn’t quite make it. Instead I walked up Snow King with my buddy Katie while Tim and Jimmie rode the Arrow Trail on the Pass. It was a dark ride for them. By 8 am they were riding the last mile with their headlamps on. One month ago, it was light until 10 pm. The seasons are changing fast!
No banks folded, but the news of Wachovia being bought out by Citi got a lot of people’s attention here on the east coast, and brought the reality of the credit crisis and possible bank failures a lot closer to home. Let’s hope you’re right and legislators do what is best for the country for a change!
Punkin for Treasurer!